Is the floor creeping up on those free falling gasoline prices?
At least one expert said there’s some evidence it just might be–even if those now seemingly stabilized $30 per barrel crude oil prices haven’t had any impact on the market.
“What we’ve seen though is the margins–especially in the Midwest–have started to take a hit on how much they can make from these low crude oil prices” said Gasbuddy.com’s Will Speer, adding “The price of gasoline has gotten so cheap that refiners aren’t making much money off of these barrels they’re refining.”
Speer also told KTSA News those spring spikes we typically see at the gas pump–when refineries make their change over tot he more expensive summer blend fuel–probably won’t pack quite the same punch this time around.
“We still have a few more weeks of falling prices–but when the spike happens, it just won’t be as bad as we might have seen in previous years” Speer said.